U.S. Jewelry Market - Focused Insights 2025-2030

The U.S. Jewelry Market was valued at USD 78.40 billion in 2024, and is projected to reach USD 97.62 billion by 2030, rising at a CAGR of 3.72%.

KEY TAKEAWAYS

• By Product Type: In 2024, the ring segment held the largest market share of over 43%.
• By Material Type: The diamond segment shows the highest growth, with a CAGR of 3.97% during the forecast period.
• By Category: The unbranded segment accounted for the largest market share.
• By Distribution Channel: The offline segment leads the U.S. jewelry market, with the largest share in 2024.
• By Age Group: The 25-44 segment shows significant growth, with the fastest-growing CAGR during the forecast period.
• By Gender: The female segment dominates and holds the largest share of the U.S. jewelry market.
• Growth Factor: The U.S. jewelry market is set to grow due to growth in wedding and engagement jewelry and a rise in demand from millennial and Gen Z consumers.

RECENT VENDOR ACTIVITIES

• On May 19, 2024, luxury jeweler Harry Winston made headlines as a 29.29-carat diamond ring from the brand was listed for auction at Bonhams New York. Expected to fetch up to $1.9 billion at the June 6 auction, the D-color, VVS2-clarity, type IIa marquise-cut ring exemplifies Harry Winston’s legacy in crafting rare, valuable, and historic gemstones. The event highlighted not only the brand’s timeless appeal but also the vibrancy of the U.S. high jewelry auction scene, where collectors seek heritage and prestige.
• On May 3, 2025, Pandora launched a special-edition heart-shaped silver charm in collaboration with UNICEF, featuring a blue center stone representing the organization’s signature color. This initiative reflects Pandora’s continued commitment to social responsibility and has contributed to raising nearly $14 million over the past five years to support global youth education, particularly for girls, reinforcing the brand's impact-driven engagement in the U.S. and global jewelry markets.

US JEWELRY MARKET TRENDS & DRIVERS

Personalization and Customization

Personalization and customization are among the most prominent trends in the US jewelry market. Consumers are increasingly seeking jewelry that reflects their personal identity, style, and emotional connection, whether for themselves or as gifts for loved ones. This trend is particularly popular among younger consumers, including those in the 25-44 age group, who prioritize unique and meaningful purchases over mass-produced items. Brands are responding by offering a wide range of customization options, such as engraving names, initials, significant dates, or personalized messages on rings, necklaces, bracelets, and even watches. Custom-made designs, where customers can collaborate with jewelers to create one-of-a-kind pieces, have gained significant traction, particularly in the fine jewelry and bridal segments. Companies like Tiffany & Co. and Pandora have implemented successful personalization strategies, offering customizable charms, birthstone jewelry, and engraved wedding bands. Moreover, the ability to modify or combine existing collections (e.g., stacking rings, interchangeable pendants, or modular bracelets) allows customers to craft jewelry that resonates with their individual preferences. As this trend grows, technology has also played a role, with several brands using 3D design tools that enable customers to visualize and personalize jewelry designs online.

Rising Popularity of Lab-Grown Diamonds

Lab-grown diamonds, or synthetic diamonds, have seen a significant rise in popularity within the US jewelry market, driven by both ethical considerations and cost-effectiveness. These diamonds are chemically, physically, and optically identical to natural diamonds but are produced in a controlled environment in laboratories, making them more affordable and sustainable. For environmentally conscious consumers, lab-grown diamonds offer an attractive alternative to mined diamonds, which have been associated with negative environmental impacts and human rights concerns, such as exploitation in some mining regions. The growing awareness about these issues has led to a surge in demand for ethically sourced alternatives. Lab-grown diamonds are also gaining traction among younger consumers who prioritize sustainability, with many opting for them as part of a broader trend toward eco-conscious consumption. The affordability of lab-grown diamonds makes them appealing for engagement rings and fine jewelry without sacrificing quality or appearance. Brands such as Brilliant Earth, James Allen, and Clean Origin have capitalized on this trend, offering a wide range of lab-grown diamond jewelry. As technology advances, the cost of lab-grown diamonds continues to decrease, making them an increasingly viable option for mainstream consumers.

Rise in Demand from Millennial and Gen Z Consumers

Millennials and Gen Z have significantly increased their share of jewelry consumption, driven by shifts in lifestyle, technology, and evolving values. These generations are reshaping the way jewelry is purchased, worn, and perceived, leading to new market opportunities and growth across various jewelry segments. For example, Millennials and Gen Z are more likely to purchase jewelry online, as they value the convenience of e-commerce, access to a wider range of styles, and the ability to compare prices quickly. This has led to the rise of online-only jewelry brands and platforms that cater to their preferences. Moreover, these younger generations are not as loyal to traditional jewelry brands but are more inclined to explore independent designers and boutique labels. Jewelry that aligns with their values - such as sustainability, diversity, and inclusivity - has become increasingly appealing. For instance, companies like Brilliant Earth, which emphasize conflict-free diamonds and ethical sourcing, resonate strongly with Millennial and Gen Z buyers who are more socially conscious and environmentally aware. The demand for "affordable luxury" and fashion-forward jewelry is rising among these younger consumers. This shift is pushing traditional luxury brands to adapt their offerings to be more affordable and inclusive, thus expanding their appeal to a wider audience.

INDUSTRY RESTRAINTS

Fluctuating Raw Material Prices

The prices of raw materials used in jewelry production, such as gold, silver, diamonds, and platinum, are subject to volatility due to a variety of factors, including global supply-demand imbalances, geopolitical tensions, and natural disasters. Fluctuating prices can significantly affect the profitability of jewelry manufacturers, as these materials account for a large portion of production costs. Gold, for example, is a highly traded commodity, and its price is influenced by a range of external factors, including inflation rates, currency fluctuations, and market speculation. When gold prices rise sharply, it can lead to increased costs for consumers and create pricing pressure for jewelry brands. For manufacturers, high raw material costs may mean they need to raise prices or reduce profit margins to remain competitive, which can affect overall sales.

U.S. JEWELRY MARKET SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT TYPE

The U.S. jewelry market by product type is segmented into rings, necklaces, pendants, chains, earrings, bracelets, and others. The ring segment holds the largest market share of over 43%. The growth is driven by a strong association with life milestones such as engagements, weddings, and anniversaries. These occasions continue to be culturally significant, sustaining steady demand even during economic fluctuations. The emotional and symbolic value attached to rings contributes to their relatively high average transaction values.

Consumers often perceive rings, particularly engagement rings, as long-term investments, making this segment a consistent revenue generator within the broader market. There is also a noticeable trend toward customization in ring purchases, with buyers seeking unique elements such as engraved messages, custom-set gemstones, or personalized designs. This shift aligns with the overall market preference for meaningful and tailor-made jewelry pieces.

INSIGHTS BY MATERIAL TYPE

The U.S. jewelry market by material type is categorized into diamond, gold, platinum, and others. The diamond segment shows significant growth, with the fastest-growing CAGR of 3.97% during the forecast period. Diamond jewelry remains a cornerstone of the US luxury jewelry market, maintaining a premium image due to its perceived rarity, brilliance, and symbolism. It is particularly dominant in the bridal segment, where diamond engagement rings continue to be the cultural norm, thereby ensuring stable and high-value demand. The value of diamond jewelry in the US market is further reinforced by strong emotional and aspirational associations.

Diamonds are frequently positioned as heirlooms or symbols of commitment, making them a preferred choice for once-in-a-lifetime purchases that drive high margins for retailers. There is a growing shift toward ethical sourcing and sustainability, which has led to rising consumer interest in lab-grown diamonds. These alternatives are appealing to younger buyers due to their affordability and eco-conscious appeal, indicating how consumer values are reshaping supply chain dynamics and product strategies within the diamond category. Enhanced virtual tools, high-resolution product imagery, and augmented reality features have improved consumer confidence in online purchases, expanding the reach of this traditionally in-store-driven segment.

INSIGHTS BY CATEGORY

Based on the category, the unbranded segment dominates and holds the largest U.S. jewelry market share. The segment is growing because consumers are driven more by aesthetic appeal and price sensitivity than by brand value. This segment is especially prominent in mass retail, flea markets, artisan outlets, and online marketplaces. A key strength of unbranded jewelry lies in its pricing flexibility. Without the added cost of brand positioning and marketing, these products are often priced lower, making them accessible to a broader demographic, especially younger buyers or gift purchasers seeking variety over luxury.

Unbranded offerings also allow for greater design diversity and responsiveness to fast-changing fashion trends. Independent jewelers and small-scale producers can quickly adapt to seasonal styles, producing unique or handmade pieces that cater to consumers seeking originality over name recognition. Unbranded jewelry faces increased competition from emerging DTC brands and white-label retailers, prompting a gradual shift toward semi-branding or artisanal recognition. In response, some unbranded sellers are now emphasizing local craftsmanship, sustainable sourcing, and customization options to differentiate themselves in a crowded market.

INSIGHTS BY DISTRIBUTION CHANNEL

Based on the distribution channel, the offline segment accounted for the largest share of the U.S. jewelry market. Physical retail outlets, including traditional jewelry stores, department stores, and specialty boutiques, have long been the primary distribution channel for jewelry. These stores offer the advantage of in-person service, allowing customers to inspect the jewelry up close and receive personalized assistance. Additionally, many consumers prefer the tactile experience of trying on pieces before purchasing, especially for high-value items like engagement rings or custom-designed jewelry. Offline stores also provide the opportunity to build brand loyalty through customer service and in-store experiences, making them essential for luxury and high-end jewelry brands.

While e-commerce has gained momentum, a considerable portion of older and traditional buyers still prefer in-store purchases for their perceived security and service quality. This makes the offline channel particularly resilient, especially among consumers who associate physical presence with authenticity and after-sales support.

INSIGHTS BY AGE GROUP

The U.S. jewelry market by age group is segmented into below 25, 25-44, and 45 & above. The 24-45 age group segment shows prominent growth, with the highest CAGR during the forecast period. This age range encompasses millennials, which are working professionals and young families, who may have more disposable income to invest in both everyday jewelry and more significant, occasion-based purchases. Engagement rings, wedding bands, and pieces for milestones such as anniversaries or promotions are common purchases for this demographic. Many consumers in this age group seek a balance between style and investment, opting for jewelry that is both fashionable and high-quality.

As these consumers typically have a growing interest in building a personal collection of fine jewelry, they may invest in higher-end materials like gold, platinum, or diamonds. Digital engagement plays a dual role in both discovery and purchase. This group frequently conducts online research, compares pricing, reads reviews, and engages with brand content before deciding on whether to buy online or in-store. Consequently, retailers focus on integrated digital journeys that include virtual consultations and seamless cross-channel services. Design preferences among 25-44-year-olds show a tilt toward minimalist yet elegant styles, with growing interest in modular and stackable designs that offer versatility and personalization. These tastes drive innovation in design and enable ongoing customer interaction through add-on purchases.

INSIGHTS BY GENDER

The female consumer segment continues to be the dominant force in the U.S. jewelry market share, accounting for a significant majority of both self-purchases and jewelry gifted by others. Jewelry remains a highly favored product category among women, serving purposes ranging from daily fashion enhancement to milestone celebrations and emotional expression. Women's preferences in jewelry are diverse and span multiple categories, from fine jewelry such as diamond rings and gold necklaces to fashion jewelry like layered chains, resin earrings, and charm bracelets. This breadth of demand fuels innovation in design, materials, and pricing, as brands aim to cater to a wide range of tastes and budgets. A notable trend among female consumers is the rise in self-purchasing behavior. Women are increasingly buying jewelry for themselves, particularly in the 25-44 age group, where financial independence and a desire for self-expression influence their buying decisions. This trend is strengthening the premium fashion and fine jewelry segments.

Female consumers are also more brand-conscious, particularly when it comes to fine and designer jewelry. Companies such as Pandora, Kendra Scott, Swarovski, and Cartier have built strong emotional connections with female buyers through storytelling, personalization options, and targeted marketing campaigns that celebrate individuality and empowerment.

COMPETITIVE LANDSCAPE

The U.S. jewellery market report consists of exclusive data on 26 vendors. Tiffany & Co., Signet Jewelers, Harry Winston, CHANEL, and Cartier represent a diverse competitive landscape, each catering to distinct segments within the luxury and high-end jewelry industry. Tiffany & Co. is renowned for its iconic blue box and emphasis on accessible luxury, blending timeless designs with modern sensibilities. Signet Jewelers, the largest specialty jewelry retailer, dominates through a wide array of brands, including Kay Jewelers and Zales, offering both mass-market and higher-end pieces.

Harry Winston is synonymous with rare, high-quality diamonds, serving an ultra-luxury niche with its exclusive and bespoke offerings. CHANEL, with its fashion-forward approach, combines jewelry with its broader brand presence, focusing on a sophisticated and exclusive clientele. Cartier, a prestigious name in haute joaillerie, continues to lead with its heritage of craftsmanship, luxury, and iconic designs, appealing to the elite. While these brands have different positioning and target audiences, they all maintain their dominance in the US jewelry market through distinct value propositions rooted in quality, craftsmanship, and brand legacy.

Key Vendors

• LVMH
• Signet Jewelers
• Harry Winston
• Richemont
• Pandora

Other Prominent Vendors

• VRAI
• Aether Diamonds
• Brilliant Earth
• HStern
• Swarovski
• Chopard
• The Clear Cut
• Graff
• Boucheron
• Gorjana & Griffin
• Mikimoto
• CHANEL
• Alex and Ani
• Charles & Colvard
• Camille Jewelry
• Mejuri
• Astrid & Miyu
• David Yurman
• Le Vian
• TACORI
• Simon G. Jewelry

SEGMENTATION & FORECASTS

• By Product Type
  • Rings
  • Necklaces, Pendants, Chains
  • Earrings
  • Bracelets
  • Others
• By Material Type
  • Diamond
  • Gold
  • Platinum
  • Others
• By Category
  • Unbranded
  • Branded
• By Distribution Channel
  • Offline
  • Online
• By Age Group
  • Below 25
  • 25-44
  • 45 & Above
• By Gender
  • Female
  • Male

KEY QUESTIONS ANSWERED

1. How large is the U.S. jewelry market?
2. Which product type has the largest share in the U.S. jewelery market?
3. Which material type provides more business opportunities in the U.S. jewelery market?
4. What are the latest trends in the U.S. jewelry market?
5. Who are the key players in the U.S. jewelry market?